New Laminate Flooring

Several months ago, I was finally able to complete a key component of the new workshop: installing the laminate flooring.  There are quite a few options for workshop flooring, none of which are perfect. Wood, engineered wood, vinyl, laminate, OSB/plywood, and epoxy just to mention a few. All of them had their own drawbacks. Wood or engineered hardwood would (solid tongue twister) most likely run into issues in an unconditioned workspace such as mine. Epoxy is harder to install than the click-and-lock vinyl or laminate options. OSB/plywood doesn’t look great and would likely require a sealant of some sort to prevent tear out. I took the pros and cons into consideration for all of the options and ended up deciding between vinyl and laminate. Both options would work for my needs in the small workshop. Both would be decently appealing if we sold the house, as they are decent looking…

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Ask Questions, Get Answers

It may seem like a simple concept. Ask questions and you’ll get answers. But for some reason, it seems difficult to speak up and ask for help. At least for me it is. And it doesn’t get any easier when it comes to asking money questions. Now, there are probably a million different financial blogs out there in this black hole we call the internet. Which is fantastic! Probably one of the better things to come out of the prevalence of the internet. Schools don’t teach kids about finances (at least in the US). If you’re lucky, you may have parents or a parent who taught you how to budget and save and be responsible financially. But if you’re like most of the US, you may not have had any real education on financial responsibility. Which is why it is fantastic that you can go online and find a lot…

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Cable is Dead

Sorry for the lack of a post last week. We’ve been doing a lot of fun house projects and I ended up forgetting to write a post until too late. Luckily, that means I was working on things for future posts. Things like installing a bathroom vent fan and chandelier, and installing ceiling fans in 2 rooms in our house. All fun items that I’ll get to write about as soon as I get around to finishing them. This week I want to continue along with the Intro to Finance series. The topic this time is cutting the cord. Just doing a quick search shows me that introductory cable tv packages can be $20 to $60 per month. And that’s just the intro rate. Pretty darn expensive and not something I would recommend to anyone who is not already independently wealthy. Honestly, even if you are independently wealthy, there are…

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Emergency Fund

Most people have heard of an emergency fund before. Especially if you read the title of this post. An emergency fund is pretty much exactly what it sounds like. It is a fund of money set aside to be used only in the event of an emergency.  There is a ton of advice floating around the internet regarding emergency funds. How much they should be. Where you should keep them. I’m going to add my two cents (which are pretty worthless….) into the conversation.  Let’s dive a little bit deeper into what an emergency fund should be before going into specifics. Around 40% of Americans would not be able to cover an unexpected $400 expense without borrowing money in some way (credit cards, family, etc.). The good news is that that is a smaller percentage than previously. We are at record low levels of unemployment which may explain some of…

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Retail Therapy That Pays

Like most people, I enjoy something new. Briefly. Buying something can give a fleeting feeling of “happiness” which plays directly into the plans of commerce companies. Luckily, around here we know that shopping is not the key to true happiness. It can, however, be the path to a lot of savings. There are a few things in this country that everyone needs. That list typically includes car insurance, home or renters insurance, a cell phone plan, and internet. Some people may have a mortgage on the list of necessities, while others (way cooler people than me) can make due without a cell phone. Either way, there is a list of things that you need. For these items, it actually makes sense to do some shopping.  It can pay you to shop around for the best deals on these necessities. You may be thinking to yourself that this sounds boring. Yup,…

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Communication is Key

I’m not a big talker. Ironic for someone who has written a weekly blog for over a year now. For me, a lot of the time, I think it is easier to stay quiet and let problems or miscommunications resolve themselves. Honestly, I don’t recommend it. It’s not the healthiest way to get through life. I think we should all improve our communication skills and be more open with those around us. Today, I want to specifically discuss why communicating with your partner about finances is important and how to do it better. Some people don’t want to talk about finances at all, even with someone that they share finances with. That won’t work. Finances are the number one cause of relationship stress in couples. Why? I believe a lot of it comes down to not being on the same plan when it comes to spending money.  Everyone comes into…

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Home Cooking For the Win

There is a great way to save money and your waistline. It has been around for forever, but more and more people seem to be forgetting about it.  It’s called making all of your meals at home. And yes, this includes lunch for all of you business boys and girls with jobs. I know you’ve all heard this before: eating at home will save you money, but it is so true that I need to say it again. Let’s start with numbers. In 2015, the average household spent $3,000 every year eating away from home, according to the U.S. Bureau of Labor Statistics. Now, what about 2019? Assuming an 8% increase in spending each year, which is what the increase was from 2014 to 2015, the average American household spends $4,000/year eating away from home (including delivery). I wouldn’t be surprised if it is more than that now with the…

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You Can’t Always Get What You Want

Unfortunately, that song from The Rolling Stones feels less and less true every year that passes here in the U.S. But Tyler, why would it be a bad thing if people could get what they want more?  Because they can’t afford it! There are a plethora of ways for people to borrow money these days. Your good old fashioned loan, credit cards, payday loans, pawn shops, and even a “refund advance” on your tax return (it’s a loan people). More and more, people are using these loans to buy the latest gadget. To get the coolest car or to go on the spectacular trip so that you can share it with everyone on Instagram. My friend even told me about his coworker taking a loan on his 401k so that he could get an apple watch and a new Iphone. He sacrificed his retirement to get text messages on his…

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Budget for Beginners

If you are ever going to be comfortable with your finances and prepared for your financial future, you will need to have a budget. I am not sure that there is a better way for someone to become knowledgeable about the entirety of their financial situation. It gives you a great picture of your incoming and outgoing money all at once. Now, having a budget may look completely different for every individual reading this post. If this is your first time creating a budget, it may feel really difficult to even start. Determining reasonable budget numbers for each area in your life may feel impossible. For those who have had a budget for awhile, it may be on autopilot, something that you look at every now and then to stay on track. For some, like Allyson and I, having a budget is more about tracking spending than planning spending, since…

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Free Money!!!

Would you like free money? I am going to assume that the answer is yes. If for some reason you don’t want free money, you can stop reading at this point. And no, this is not one of those signs on the side of the road promising $1000/week investing in real estate or something similar. This is legitimate and about as easy as it comes.  As part 1 of the Intro to Finance series that I am putting together, I’d like to discuss the 401k that most companies offer for salaried employees. To begin, let’s define a 401k. A 401k is an employer sponsored retirement account that allows employees to invest for their retirement on a tax deferred basis. Essentially, you can contribute money before taxes (reducing your taxable income) and then invest that money. Once you reach the age of 59.5 (hopefully well into retirement), you can then withdraw…

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